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On February 6, 2025, Waldorf UK PLC announced its intent to use a restructuring plan under the Companies Act. This plan includes amendments to its bonds and the compromise of certain liabilities owed to Capricorn Energy PLC. The compromise involves a cash payment of 5% of the outstanding liability and upside-sharing payments after Waldorf's secured creditors have been paid. Capricorn has engaged Norwegian and English counsel.
| Date | 6 Feb 2025 |
| Time | 10:58:16 |
| Category | Corporate updates |
| ID | 2078W |
CAPRICORN ENERGY PLC ("Capricorn" or "the Company")
Waldorf Update
Capricorn notes Waldorf UK PLC ("Waldorf")'s announcement today that it intends to use a restructuring plan under the Companies Act.
Under Waldorf's plan, certain amendments will be made to the terms of its bonds; and the compromise of certain liabilities owed to Capricorn in exchange for consideration consisting of: (a) a cash payment of 5% of the outstanding liability; and (b) certain "upside-sharing payments" after Waldorf's secured creditors have been paid.
Capricorn has engaged Norwegian and English counsel and is considering all options available to it.
Ends
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Analysts / Investors |
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Nathan Piper, Commercial Director |
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Diana Milford, Corporate Affairs |
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Billy Clegg/ Georgia Edmonds, Camarco
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Tel: 0203 757 4980 |